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Nov 29, 2012
11/12
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there's always talk about the election and the winner of obama but the most important market factor in november wasn't necessarily the win of obama over romney but it assures that ben bernanke will be here for a while. all this talk about the fiscal cliff is peanuts compared to the importance of what is happening in monetary policy. >> that is correct and the fiscal stimulus not so important. ben bernankeemaintaining quantitative easing for prolonged period of time gives investors confidence as opposed to taking the punch bowl away with quantitative easing of the mitt romney as president so when the fed says they will keep interest rates relatively low we are absolutely low and some time in 2013 you have to believe that. liz: the journal says qe 4 is coming. he is coming up in a minute because he got a big scoop yesterday on q e 4. great to have you on the program. the dow 14,000, you are obviously the bull, what would get us there and in what period of time? >> nice to be on with you. i think when we look at the technicals here we are seeing a strong landscape of many individual stock
there's always talk about the election and the winner of obama but the most important market factor in november wasn't necessarily the win of obama over romney but it assures that ben bernanke will be here for a while. all this talk about the fiscal cliff is peanuts compared to the importance of what is happening in monetary policy. >> that is correct and the fiscal stimulus not so important. ben bernankeemaintaining quantitative easing for prolonged period of time gives investors...
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you had obama last week, you had the republicans counter that today. they're a mile apart -- david: michael, hold on a second. let me make sure that we get you straight here, because i think i might have misread your notes. you're not saying we're going to have a 4% contraction in the economy, you think a 4% pullout in the market? >> oh, absolutely not. no, i'm not making a call like that on the economy. i'm saying the market could back up that amount in a worst case scenario if it gets contentious in the next few weeks. but unlike the others, i do think they will come to an agreement. i do think right now you're seeing the negotiating process play out, and when you have this play out, the market that's already run up, i think we could go sideways and trade like we did today. today wasn't disastrous. volume was very light. yeah, we went out on the lows, we had some negative economic data points, and i think that's what we're in for until we get some clarity on what happens with the cliff. >> all right, charlie, folks have got to put their money to work
you had obama last week, you had the republicans counter that today. they're a mile apart -- david: michael, hold on a second. let me make sure that we get you straight here, because i think i might have misread your notes. you're not saying we're going to have a 4% contraction in the economy, you think a 4% pullout in the market? >> oh, absolutely not. no, i'm not making a call like that on the economy. i'm saying the market could back up that amount in a worst case scenario if it gets...
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once he won the election it was a reaction in the market. the client base is difficult to make the right decision, you don't know what the facts are. will be a question later on. there has not been a lot of trading in dividend stocks and because of the reason for that, an overriding concern what is going on with the fiscal cliff. people waiting to find out what is going to happen. liz: from your perspective and you guys are among the biggest, you're not seeing people jumping in and saying these companies are paying out early dividends. >> as far as our client buying or selling, no. the rationale is simple. you don't know what the rate is going to be an don't know what your tax is going to be and if that is the reason you bought the stock to begin with it might make sense if it goes up 5%, won't makes sense if it goes up 30% so the client base is smart enough to recognize that. liz: td ameritrade added dividend of 2.6% consider fast tracking its dividend. >> the entire management team as well as the board will always think about the long-term
once he won the election it was a reaction in the market. the client base is difficult to make the right decision, you don't know what the facts are. will be a question later on. there has not been a lot of trading in dividend stocks and because of the reason for that, an overriding concern what is going on with the fiscal cliff. people waiting to find out what is going to happen. liz: from your perspective and you guys are among the biggest, you're not seeing people jumping in and saying these...
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listen, this is the same media to got president obama elected and now the same media that's going to brow beat anybody who goes against the agenda. and he says it's going to hurt us, we don't know to what degree, but no doubt about it the negative media coverage that focused on darden in the food segment service because we have to accommodate health care is going to impact our bottom line. stuart: are you sure it's because olive garden does not serve authentic italian food. >> and we're going to change where we eat at, we're going to choose to disregard the restaurants doing this. cheesecake factory, ovdave overton, he's doing the same thing. we have to cut elsewhere. >> and an organization, do you think that cheesecake-- >> every company that talked about this during the election, their brand identity plunged and the ceo's have been begging and pleading with the public, maybe we'll try something different. be careful. stuart: next, we hear from speak h er boehner, and raising taxes on the rich, he insists we do that, what will speaker boehner say. and a cartoon rich person out of ca
listen, this is the same media to got president obama elected and now the same media that's going to brow beat anybody who goes against the agenda. and he says it's going to hurt us, we don't know to what degree, but no doubt about it the negative media coverage that focused on darden in the food segment service because we have to accommodate health care is going to impact our bottom line. stuart: are you sure it's because olive garden does not serve authentic italian food. >> and we're...
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Nov 30, 2012
11/12
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and say we need a bailout, we did vote for president obama in the last election. give us a bailout. they you think that will happen? >> and all too real possibility. the governor refuses to rule out asking or accepting future federal bailout and a freeze keep sitting on our hands doing nothing the problem will get worse and that will be a federal bailout. and ask taxpayers of other states, folks who have their act together to fix our politicians's mess. >> i have been saying for a long time i think a bailout request will come. maybe they are denying it but i think it is going to come. in california same situation, ill. same situation. both of those that -- voted for president obama, a bailout request is coming but absent that, what plan could they put in place in illinois to deal with this? got any ideas? >> it is simple, we have to follow the lead of the private sector and transition to the fine contribution plan. pensions are broke. trying to fix our system would be like bailing out the titanic with a dixie cup. you have to do right by state workers and the best way to do that is
and say we need a bailout, we did vote for president obama in the last election. give us a bailout. they you think that will happen? >> and all too real possibility. the governor refuses to rule out asking or accepting future federal bailout and a freeze keep sitting on our hands doing nothing the problem will get worse and that will be a federal bailout. and ask taxpayers of other states, folks who have their act together to fix our politicians's mess. >> i have been saying for a...
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he supported obama totally in the election. without clinton i don't think that obama would have been reelect and that's what he did for him. and what clinton could do in the future, i don't know. i don't know why obama is so insistent on higher tax rates except it fits his rhetoric. stuart: at the end of the day, i think that the republicans will actually submit on the issue of higher tax rates. it may be just tax rates higher for those making half a million a year, i think they'll retreat a little bit. >> i think, too, what i'd like to see the republicans do, i'd like to see them pass a bill extending tax cuts below $250,000 and everyone agrees those should be put through and then put through another bill that extends the tax cuts on those $250,000 and above and let the democrats take ownership because you know, they're going to be held responsible for the economic performance of 2013 and come 2014, you can actually get a political change that might make a difference. stuart: we'll wait and see on that one. art laffer, always
he supported obama totally in the election. without clinton i don't think that obama would have been reelect and that's what he did for him. and what clinton could do in the future, i don't know. i don't know why obama is so insistent on higher tax rates except it fits his rhetoric. stuart: at the end of the day, i think that the republicans will actually submit on the issue of higher tax rates. it may be just tax rates higher for those making half a million a year, i think they'll retreat a...